Mesoblast Completes A$170m Private Placement
News Mar 19, 2013
Mesoblast Limited has announced that it has completed a private placement of its shares, raising A$170 million.
Under the placement, 26,970,979 fully paid ordinary shares were issued at A$6.30 per share, a discount of 2.2 per cent to the closing price of the company’s shares on 1 March 2013.
The total shares on issue have now increased by 9.4 per cent to 314,811,301.
The shares were placed to a select group of existing strategic investors and new United States and global institutional funds, including M & G Investment Management and Capital Research.
As a result of the placement, Mesoblast’s free float has increased by approximately 16.5 per cent, which may positively impact the Company’s weighting within the S&P/ASX 200 index.
In determining Mesoblast’s free float under S&P/ASX methodology, strategic shareholdings of Mesoblast alliance partner Teva Pharmaceutical Industries Ltd and Mesoblast Chief Executive Silviu Itescu, both of which remain unchanged post the placement, are not included.
The intended uses of these funds are for continued development of Mesoblast’s proprietary Mesenchymal Precursor Cell (MPCs) technology platform, specifically:
• a Phase 3 clinical trial using MPCs for treatment of degenerative disease of the lumbar spine
• new Phase 2 clinical trials to broaden the indications for intravenous delivery of MPCs in the treatment of systemic inflammatory conditions
• optimization of MPC manufacturing processes and increased product inventory
• staff and overheads.
Professor Itescu said: “Our strengthened financial position ensures that we can drive our independent programs to commercial outcomes, particularly in the areas of degenerative disease of the lumbar spine and in the treatment of inflammatory and immune-mediated conditions.”
Ingestible Drug-Delivery Materials May Improve Patient Treatment ComplianceNews
Hydrogel-based capsules could expand and reside in the GI tract for days, slowly releasing medication.READ MORE
LifeArc Becomes Technology Transfer Partner to London School of Hygiene & Tropical MedicineNews
LifeArc, the medical research charity, has partnered with London School of Hygiene & Tropical Medicine to provide a range of services in technology transfers.READ MORE
Human Pluripotent Stem Cells Successfully 3D PrintedNews
A breakthrough in the 3D-printing of human pluripotent stem cells means scientists are one step closer to being able to 3D print human organs and tissues for transplantation therapy.READ MORE
Comments | 0 ADD COMMENT
International Conference and Exhibition on Nanomedicine and Nanotechnology
Nov 23 - Nov 24, 2017